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Wednesday, February 29, 2012
Vacancy for CA Inter at Chennai
Pick up and drop facility - These places you have the pick-up & drop facility from our client - Gundi, st. thomas mount, pahavanthangal, trisulam, manabakkam, pallavaram, chrompat, tambaram, ambattur, kuduanjeri, chengalpet & 7 more places from tambaram to the factory
additional Benefits provided
• Transport facility provided from above mentioned areas
• 5 days working
• Canteen facility (employees are not charged)
• Bonus
• Work timings – 8:30 am to 5:30 pm
POSITION TITLE – EXECUTIVE/SR EXECUTIVE COMPLIANCES
We need a male or female candidate for the post of executive/sr executive compliances. However person should be aware oof preparation of balance sheet/ trial balance or P/L statements under schedule 6. Candidates who do not have knowledge of schedule 6 and are currently not working on that shall not be considered.
Qualification: • B.com/M.com/M.B.A Finance/Cost Accountant (CWA)(Intermediate) / Chartered Accountant (Intermediate). • Tax Laws like Excise, Customs, Service tax and Withholding tax, Good in Tally and SAP
Experience needed: • 2+ years work experience in Taxation, Overall 3+ years work experience
Age: Below 35 yrs of age preferably.
CTC offered – between 20- 25 k pm
Reporting to – manager finance and accounts
Position purpose - Reporting to the Manager Finance & Accounts, India, will be responsible for both Direct and Indirect tax compliance. This includes ensuring proper tax compliance through regular review of local tax laws (e.g. regarding Excise, Customs, Service tax and as well as Withholding tax) and close coordination with external tax advisors.
Skills and attributes
• Good typing skills and good PC skills (Excel, Power Point, Word, etc.)
• Attentive to detail and accurate.
• To handle individually the Taxation matters
• Possesses the confidence and presence to interact at senior management levels
Essential functions and basic duties
• Handle day to day accounting activities in terms of all statutory and other related transactions
. preparation and amendments to schedule 6 of the companies act
• File all tax related returns with respective authorities like VAT, ST, TDS, IT etc
• To be part of accounting function
• Identify, analyze, and prioritize direct and indirect tax issues and opportunities
• Implement Compliance process workflow
• Assist in Transfer pricing assessment, analysis and documentation
• Ensure the proper indirect tax reporting of all business transactions
• Assist in tax initiatives responses to external environment and regulations
• Be a Owner of all local indirect tax compliances for the businesses
• Assist with the global tax team to implement key tax initiatives for maximizing cash flow and minimizing financial statement tax expense while maintaining highest standards of compliance and integrity
• Partner with the other functions locally and internationally to drive simplification and automation initiatives
• Assist in the support of finance and operational leaders to understand tax implications of transactions
additional Benefits provided
• Transport facility provided from above mentioned areas
• 5 days working
• Canteen facility (employees are not charged)
• Bonus
• Work timings – 8:30 am to 5:30 pm
POSITION TITLE – EXECUTIVE/SR EXECUTIVE COMPLIANCES
We need a male or female candidate for the post of executive/sr executive compliances. However person should be aware oof preparation of balance sheet/ trial balance or P/L statements under schedule 6. Candidates who do not have knowledge of schedule 6 and are currently not working on that shall not be considered.
Qualification: • B.com/M.com/M.B.A Finance/Cost Accountant (CWA)(Intermediate) / Chartered Accountant (Intermediate). • Tax Laws like Excise, Customs, Service tax and Withholding tax, Good in Tally and SAP
Experience needed: • 2+ years work experience in Taxation, Overall 3+ years work experience
Age: Below 35 yrs of age preferably.
CTC offered – between 20- 25 k pm
Reporting to – manager finance and accounts
Position purpose - Reporting to the Manager Finance & Accounts, India, will be responsible for both Direct and Indirect tax compliance. This includes ensuring proper tax compliance through regular review of local tax laws (e.g. regarding Excise, Customs, Service tax and as well as Withholding tax) and close coordination with external tax advisors.
Skills and attributes
• Good typing skills and good PC skills (Excel, Power Point, Word, etc.)
• Attentive to detail and accurate.
• To handle individually the Taxation matters
• Possesses the confidence and presence to interact at senior management levels
Essential functions and basic duties
• Handle day to day accounting activities in terms of all statutory and other related transactions
. preparation and amendments to schedule 6 of the companies act
• File all tax related returns with respective authorities like VAT, ST, TDS, IT etc
• To be part of accounting function
• Identify, analyze, and prioritize direct and indirect tax issues and opportunities
• Implement Compliance process workflow
• Assist in Transfer pricing assessment, analysis and documentation
• Ensure the proper indirect tax reporting of all business transactions
• Assist in tax initiatives responses to external environment and regulations
• Be a Owner of all local indirect tax compliances for the businesses
• Assist with the global tax team to implement key tax initiatives for maximizing cash flow and minimizing financial statement tax expense while maintaining highest standards of compliance and integrity
• Partner with the other functions locally and internationally to drive simplification and automation initiatives
• Assist in the support of finance and operational leaders to understand tax implications of transactions
Salary: INR 1,00,000 - 3,00,000 P.A. B.com/M.com/M.B.A Finance/Cost Accountant (CWA)(Intermediate) / Chartered Accountant (Intermediate). • Tax Laws like Excise, Customs, Service tax and Withholding tax, Good in Tally and SAP
Industry: Textiles, Garments, Fashion, Accessories
Functional Area: Accounts, Finance, Tax, CS, Audit
Role Category: Accounts
Role: Accounts Executive/Accountant
Keyskills: compliances, statutory compliances, finalization of accounts, schedule 6, compliances executive, compliances officer, taxation, indirect taxation, direct taxation
Desired Candidate Profile
Education: (UG - B.Com) OR (PG - MBA/PGDM, CA, CS, LLM, M.Com)
Please refer to the Job description above Company Profile
person should be currently preparing BS/ P&L/ trail balance under schedule VI
Rian Placements is an efficient and established HR partner for corporate organizations. We are a manpower recruitment consultancy and deal in job placements at all levels, in multiple industries, on a pan India basis. Our Vision is to 'forge mutually rewarding relationships in order to meet expectations'.
We specialize in recruitments of Senior and Middle management levels and also handle the Junior Management band, as and when specified by the clients. We aim to provide total recruitment solutions.
Contact Details
Insurance without premium is possible ?PwC arm's insurance cover under cloud
PwC arm's insurance cover under cloud
Pankaj Doval, TNN | Feb 29, 2012, 03.33AM IST
NEW DELHI: Price Waterhouse (PW) Bangalore, the tainted auditor of scam-hit Satyam, utilized over 95% of a $60-million (Rs 280 crore approximately) insurance cover available to all Price Waterhouse entities in India to meet post-fraud litigation expenses and damages without paying a single rupee towards the premium. The revelation raises questions about the arguments put forth by the global financial services company that each of its Indian firms is a separate legal entity and not responsible for the acts or omissions of any other member firm.
PW Bangalore, which had the mandate for the Satyam audit before the fraud came to light in 2009, did not contribute any money towards the Professional Indemnity Insurance (PII) of $60 million, but surprisingly enjoyed the cover when it faced trouble and litigation for the lax audit, documents accessed by TOI showed. PW Bangalore even used the cover to pay $15.5 million towards settlement of a class-action suit filed against it in the US. Till financial year 2011, various entities of PricewaterhouseCoopers India (PwC India)-including a private limited company which renders only non-audit related services-had a common insurance cover.
The insurance premium up to FY2011 was paid by PricewaterhouseCoopers Pvt Ltd (PwCPL), the tax and business advisory services company, and two audit firms - Price Waterhouse (PW) and Lovelock & Lewes (LL). While PwCPL paid 20% towards the premium amount, PW paid 52% and LL 28%. The insurance cover has been taken from Bajaj Allianz.
The usage of the insurance cover by the firm, despite not paying any premium, is in line with the 'one firm' approach adopted internally by PwC India, in contrast to its public stand before many agencies - including the Institute of Chartered Accountants of India, the regulator for auditors, and capital market regulator Sebi. Responding to a TOI questionnaire, a PwC India spokesperson said: "The documents The Times of India purports to have in its possession, if authentic, are private and confidential business documents, and their distribution and publication would constitute a breach of commercial confidentiality and a violation of our rights. While as a policy we do not comment publicly on our internal matters, we deny the allegations purportedly made in the questions being raised by
The Times of India. PW India firms have complied and will continue to comply with applicable laws, regulations and professional standards."
Documents seen by TOI show that the Satyam debacle led to a surge in the premium for the group's insurance cover, but PW Bangalore was not billed anything for this. While the annual insurance premium was approximately Rs 3 crore in FY09, it more than doubled to around Rs 7 crore in FY10. A year later, the premium almost trebled to around Rs 20 crore. As the premium amount kept rising, there was no contribution from PW Bangalore, the firm that was responsible for the increased risk profile of PwC India entities. Also, PwCPL paid the higher premium as part of its 20% share even when it had nothing to do with the audit business, the main reason for the higher premium.
Documents show that Deepak Kapoor, Chairman, PwC India, and Rajan Varma, the director finance, were aware of the matter and also of a new restructuring in the insurance policy from FY12 that divided the cover into two separate policies - $20 million for PwCPL and $40 million for 10 audit firms. The splitting of the insurance cover in two policies recognized the importance of separate business and risk profiles between advisory business and auditing practice. It also factored in the impact of the Satyam scam and quality control being followed in the auditing practice. This aspect was adversely commented upon in the orders of the US regulators SEC and PCAOB, which had imposed fines aggregating $7.5 million (around Rs 35 crore) on the audit firms.
The restructured insurance policy - despite charging a specific $2.07 million premium for PwCPL - saw the company contribute $870,000 in line with the 20% share it was paying earlier when there was a consolidated insurance cover. This again shows the 'one firm' approach adopted by the company and how internally most of the business went about as a single entity. However, when asked categorically whether all the audit firms as well as PwCPL are separate and distinct legal entities, as claimed, the spokesperson replied with a terse "Yes".
Pankaj Doval, TNN | Feb 29, 2012, 03.33AM IST
NEW DELHI: Price Waterhouse (PW) Bangalore, the tainted auditor of scam-hit Satyam, utilized over 95% of a $60-million (Rs 280 crore approximately) insurance cover available to all Price Waterhouse entities in India to meet post-fraud litigation expenses and damages without paying a single rupee towards the premium. The revelation raises questions about the arguments put forth by the global financial services company that each of its Indian firms is a separate legal entity and not responsible for the acts or omissions of any other member firm.
PW Bangalore, which had the mandate for the Satyam audit before the fraud came to light in 2009, did not contribute any money towards the Professional Indemnity Insurance (PII) of $60 million, but surprisingly enjoyed the cover when it faced trouble and litigation for the lax audit, documents accessed by TOI showed. PW Bangalore even used the cover to pay $15.5 million towards settlement of a class-action suit filed against it in the US. Till financial year 2011, various entities of PricewaterhouseCoopers India (PwC India)-including a private limited company which renders only non-audit related services-had a common insurance cover.
The insurance premium up to FY2011 was paid by PricewaterhouseCoopers Pvt Ltd (PwCPL), the tax and business advisory services company, and two audit firms - Price Waterhouse (PW) and Lovelock & Lewes (LL). While PwCPL paid 20% towards the premium amount, PW paid 52% and LL 28%. The insurance cover has been taken from Bajaj Allianz.
The usage of the insurance cover by the firm, despite not paying any premium, is in line with the 'one firm' approach adopted internally by PwC India, in contrast to its public stand before many agencies - including the Institute of Chartered Accountants of India, the regulator for auditors, and capital market regulator Sebi. Responding to a TOI questionnaire, a PwC India spokesperson said: "The documents The Times of India purports to have in its possession, if authentic, are private and confidential business documents, and their distribution and publication would constitute a breach of commercial confidentiality and a violation of our rights. While as a policy we do not comment publicly on our internal matters, we deny the allegations purportedly made in the questions being raised by
The Times of India. PW India firms have complied and will continue to comply with applicable laws, regulations and professional standards."
Documents seen by TOI show that the Satyam debacle led to a surge in the premium for the group's insurance cover, but PW Bangalore was not billed anything for this. While the annual insurance premium was approximately Rs 3 crore in FY09, it more than doubled to around Rs 7 crore in FY10. A year later, the premium almost trebled to around Rs 20 crore. As the premium amount kept rising, there was no contribution from PW Bangalore, the firm that was responsible for the increased risk profile of PwC India entities. Also, PwCPL paid the higher premium as part of its 20% share even when it had nothing to do with the audit business, the main reason for the higher premium.
Documents show that Deepak Kapoor, Chairman, PwC India, and Rajan Varma, the director finance, were aware of the matter and also of a new restructuring in the insurance policy from FY12 that divided the cover into two separate policies - $20 million for PwCPL and $40 million for 10 audit firms. The splitting of the insurance cover in two policies recognized the importance of separate business and risk profiles between advisory business and auditing practice. It also factored in the impact of the Satyam scam and quality control being followed in the auditing practice. This aspect was adversely commented upon in the orders of the US regulators SEC and PCAOB, which had imposed fines aggregating $7.5 million (around Rs 35 crore) on the audit firms.
The restructured insurance policy - despite charging a specific $2.07 million premium for PwCPL - saw the company contribute $870,000 in line with the 20% share it was paying earlier when there was a consolidated insurance cover. This again shows the 'one firm' approach adopted by the company and how internally most of the business went about as a single entity. However, when asked categorically whether all the audit firms as well as PwCPL are separate and distinct legal entities, as claimed, the spokesperson replied with a terse "Yes".
Time limit for investment in section 54EC bonds-How to be counted
Time limit for investment in section 54EC bonds-How to be counted
For the purposes of section 54EC six months period shall be counted from the end of the month in which the asset giving rise to capital gain was transferred. - Vide Mr. Yahya E. Dhariwala v. Deputy Commissioner of Income Tax (2012) 43 (II) ITCL 238 (Mum-Trib)
SERVICE TAX
Commercial Training or coaching service-Training to the buyer of machine-Levy of service tax
The assessee was not providing any coaching or training to outsiders except the employees of the buyer concerns who were to use the machines purchased. The training was not appearing to be a primary commercial activity of the assessee nor also commercial activity of such nature as known to the fiscal law was carried out by assessee. Hence, the appeal of the revenue was dismissed:- CCE v. Punjab Communication Ltd. (CESTAT-Del) Final Order No. ST/310/2011 (PB), decided on 27-6-2011
For the purposes of section 54EC six months period shall be counted from the end of the month in which the asset giving rise to capital gain was transferred. - Vide Mr. Yahya E. Dhariwala v. Deputy Commissioner of Income Tax (2012) 43 (II) ITCL 238 (Mum-Trib)
SERVICE TAX
Commercial Training or coaching service-Training to the buyer of machine-Levy of service tax
The assessee was not providing any coaching or training to outsiders except the employees of the buyer concerns who were to use the machines purchased. The training was not appearing to be a primary commercial activity of the assessee nor also commercial activity of such nature as known to the fiscal law was carried out by assessee. Hence, the appeal of the revenue was dismissed:- CCE v. Punjab Communication Ltd. (CESTAT-Del) Final Order No. ST/310/2011 (PB), decided on 27-6-2011
S. 143(2) Notice "Issue" vs. "Service": HC Terms Own Law "Per Incuriam"
V.R.A. Cotton Mills (P) Ltd vs. UOI (P&H High Court)
S. 143(2): “Issue” of notice is equivalent to its “service”
In respect of AY 2009-10, the assessee filed a ROI on 29.09.2009. The last date for service of the s. 143(2) notice was 30.09.2010. A notice u/s 143 (2) was served by affixation at 11.20 pm on 30.09.2010. The assessee filed a Writ Petition claiming that u/s 282 (1), a notice or requisition had to be served either by post or as if it was a summons issued by a Court under the CPC and that service by affixture was invalid. The assessee relied on CIT vs. AVI-OIL India 323 ITR 242 (P&H) where it was held that a notice u/s 143(2) had not only to be issued, but had to be served before the expiry of 12 months (now 6M) from the end of the month in which the return was furnished. Hotel Blue Moon 321 ITR 362 (SC) was relied upon to contend that in the absence of a s. 143(2) notice, the assessment was invalid. HELD dismissing the Petition:
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4 March 2012 Study Circle Meeting
BLOCK YOUR SUNDAY MORNING FOR YOURSELF
A CHANCE TO MEET AN YOUNG & PASSIONATE ENTREPRENEUR , WHO IS GIVING HIS PRECIOUS TIME TO US FOR SHARING HIS JOURNEY FROM BOTTOM TO SUCCESSFUL VENTURE.
&
TO HAVE ANSWER ON ISSUES LIKE :-
· 1. How can you become a successful leader?.· 2. How to improve your management skill?
· 3. The difficulties you may face while running your business.
· 4. How to take critical decisions at the time of dilemma?
&
Much more……………………………THEN SEE YOU AT HOTEL KOHINOOR ON SUNDAY i.e 4th MARCH 9.00 A.M. Thanx & Best Regards
CA. B.L.Maheshwari
Convenor
J. B.Nagar CPE Study Circle of WIRC
B-302 Citi Point,Nr. Hotel kohinoor A.K.Road
Andheri (E) Mumbai 400 059
Mob: B.L.M.9820070768 ,
CRACK DOWN ON BOGUS / DUMMY CA FIRMS---H.P.BRANCH
The new team at Himachal Pardesh Branch of ICAI has decided to officially crack down BOGUS/DUMMY FIRMS.
Tuesday, February 28, 2012
Tenders are invited for Provision For Carrying Out Concurrent Audit Of Data Centre of Bank of India At CBD Belapur At Mumbai
Bank Of India, Mumbai, Maharashtra invites tenders notice for provision for carrying out concurrent audit of data centre at CBD Belapur. Tender document can be collected/downloaded from Mumbai .
- Notice TypeTender Notice
- Tender ScopeDomestic
- CategoryInternal Audit Services
- ProductsAudit
Dates to Remember
Vacancy for CA ICICI bank
| mumbai | |
| JOB6217 | |
| Chartered Accountants | |
| - Accounting and valuation of forex, derivatives, bonds and money market products - Analysis of the profit and loss of the bank attributable to the treasury operations - Building controls for treasury related processes | |
| Mumbai | |
| 0 | |
| 8 | |
| - Conduct audits in timely manner as per internal quality standards - Understanding & ensuring compliance & regulatory guidelines & risk framework - Executes audit activities including risk assessment,Audit programs and test procedures with appropriate supervision | |
| -- | |
| -- | |
| 28 Feb 2012 | Click here to apply |
Names of Audit Firms approved for appointment as Statutory Central Auditors in 25 Public Sector Banks for the year 2011-12
Names of Audit Firms approved for appointment as Statutory Central Auditors in 25 Public Sector Banks for the year 2011-12
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THANE MID-TOWN CPE STUDY CIRCLE Meetings for March 2012
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| Dear Members, THANE MID-TOWN CPE STUDY CIRCLE has organized Study Circle Meeting on 16th March’2012 at TMA, Hall, Near Dwarka Hotel, Wagle Estate, Thane West . The details of programme are mentioned herein below. Members can take advantage of this opportunity by enrolling themselves in large numbers. Warm regards, CA Sarad Beria (Convenor) CA.Vijay Jain( Dy Convenor) CA.Sunil Doshi(Dy Convenor) 9820508633 9869010681 9833686591 | ||||||||
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TOPICS SPEAKERS | ||||||||
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| Dear Members, THANE MID-TOWN CPE STUDY CIRCLE has organized Study Circle Meeting on 22ND March’2012 at TMA, Hall, Near Dwarka Hotel, Wagle Estate, Thane West . The details of programme are mentioned herein below. Members can take advantage of this opportunity by enrolling themselves in large numbers. Warm regards, CA Sarad Beria (Convenor) CA.Vijay Jain( Dy Convenor) CA.Sunil Doshi(Dy Convenor) 9820508633 9869010681 9833686591 | ||||||||
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TOPICS SPEAKERS | ||||||||
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